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I take it that it is the precarious financial position on some Universities that stop employers increasing their contributions. Do individual Universities have any room for manoeuvre? Can we please have clarity on the underlying economics behind these changes. FAQ

The collective financial strength of all 340 participating employers (‘the covenant’) effectively underwrites the security of the pensions being promised to our members. But, as an open, relatively immature scheme, the strength of the covenant is supported by the ability of employers to fund the scheme on an ongoing basis through regular payroll contributions. That is, the contributions required are affordable, sustainable, and do not have a significant impact on employers’ core functions.
How is the current and future surge in inflation going to positively affect the scheme? FAQ

High inflation is unlikely to have a positive effect on the scheme’s funding position. The pensions promised to USS members are currently increased every year both before and after retirement broadly in line with inflation. Higher inflation effectively makes the cost of fulfilling those pension promises to members more expensive. As set out in the Q&As above, it also presents challenges from an investment perspective.
Can you outline why it is important to stay in a company pension scheme so people don't leave, which would be a worse situation, both for them and the scheme. FAQ

Workplace pensions are one of the best places to save for retirement because you not only get tax relief on your contributions, you also benefit from an employer contribution. In USS your employer will pay a contribution to the scheme which is equivalent to 21.6%* of your salary.
I built up Final Salary benefits. How was my service calculated at the time? FAQ

Your pensionable service was based on how many days you'd been a member of USS. It included any additional service you'd received by paying AVCs or transferring in pension benefits from another scheme.
What happens if I’ve chosen Enhanced Opt Out (EOO) and I leave my USS employer or retire (not because of ill health)? FAQ

Your benefits will be calculated based on what you’d built up before your EOO started.
When did the Experian codes expire? FAQ

The Experian activation codes expired at the end of August. If you activated your code before this date, you will have access to the Experian service for 12 months.
I’m moving between USS employers and still want to build my pension – do I need to do anything? FAQ

Your previous employer will send us a leaver notification and, if you’re eligible for a USS pension in your new role, your new employer will send a joiner notification.
How are you going to compensate members if somebody commits ID fraud using the details that have been accessed? FAQ

We are proactively engaging with Capita in respect of their investigations and are considering the next steps available to us.
I’m having trouble registering for My USS FAQ

To register for My USS you’ll need your member number, your National Insurance number and a personal email address.

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